Saudi Arabia – Insurers plan mergers
Wednesday, 12 06 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Informed sources revealed that a number of insurance companies consider seriously entering into mergers, so the number of insurers can decrease from 35 companies to only 20 companies in order to avoid bankruptcy. This follows the large losses incurred by some companies. The sources added that insurers started employing women in order to handle the insurance of female vehicle drivers.
Moreover, according to “Okaz” newspaper, insurers will increase motor insurance prices for drivers who have clean driving records, so they will offer discounts. However, prices for bad drivers who cause accidents will increase according to the information of driving records.
Source: Akhbaar 24